NU Online News Service, April 1, 2003, 3:55 p.m. EST – Principal Financial Group Inc., Des Moines, Iowa, has introduced the Principal Variable Universal Life Accumulator II, a group variable-universal life policy.
Small employers can use the policy to set up savings programs for highly paid employees who have already contributed the maximum amount to 401(k) plans, Principal says.
VUL policies give participants the ability to invest in investment options that resemble mutual funds.